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Damodar Industries evaluates textile JV in Bangladesh
02
Nov '15
Damodar Industries, one of the largest producers of value added yarns in India, is evaluating a proposal to set up a joint venture company for setting up textile plants in Bangladesh.

“The Board of Directors of the company at its meeting held on October 30, 2015, inter alia, has discussed and evaluated the proposal of forming a joint venture company for setting up textile units in Bangladesh,” Damodar Industries said in a filing to the BSE.

Set up in 1987 as a private limited company to manufacture synthetic blended yarns, the company got listed in 1992. Since then, it has expanded its production capacity and it currently has a group turnover of $100 million from 6 manufacturing facilities.

With its vast product basket and tailor made services in the yarn industry, Damodar group caters to customers in all segments of textile industry from shirting to home furnishing to carpet industry to knitting. The company exports its products to over 40 countries across Europe, South Africa, South America, Australia, Korea, Belgium, Singapore, Italy, Egypt and the Gulf countries. (RKS)

Fibre2Fashion News Desk – India

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